What is a debt collection "Itemization date"?

The Consumer Financial Protection Bureau requires debt collectors to provide an “itemization date” in the initial communication that they send to consumers.

Itemization date means any one of the following five reference dates for which a debt collector can ascertain the amount of the debt:

1. Last statement date

2. Charge-off date

3. Last payment date

4. Transaction date

5. Judgment date

A debt collector may select any of these dates as the itemization date to comply with § 1006.34. Once a debt collector uses a reference date for a debt in a communication with a consumer, the debt collector must use that reference date for that debt consistently when providing the information required by § 1006.34(c) to that consumer. For example, if a debt collector uses the last statement date to determine and disclose the account number associated with the debt pursuant to § 1006.34(c)(2)(iv), the debt collector may not use the charge-off date to determine and disclose the amount of the debt pursuant to § 1006.34(c)(2)(vii).

Last statement date

Under § 1006.34(b)(3)(i), the last statement date is the date of the last periodic statement or written account statement or invoice provided to the consumer by a creditor. For purposes of § 1006.34(b)(3)(i), the last statement may be provided by a creditor or a third party acting on the creditor’s behalf, including a creditor’s service provider. However, a statement or invoice provided by a debt collector is not a last statement for purposes of § 1006.34(b)(3)(i), unless the debt collector is also a creditor.

Charge-off date

Last payment date

Transaction date

Judgment date

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What Information Does a Collection Agency Need?